AMA Highlights | COCOS AMA Series №1 with Cocos-BCX Co-founder Haozhi Chen

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*The following content has been translated to English from Chinese by Cocos-BCX.

On Saturday, May 09, 2020, at 8:00 PM (UTC+8), we hosted a live-stream session with Cocos-BCX co-founder Haozhi Chen in Cocos-BCX official WeChat group. During the “AMA ”, Cocos-BCX co-founder Haozhi Chen and Cocos-BCX community manager Alvin (the host) discussed Cocos-BCX development and answer some burning questions that community members care about.

The following are excellent and meaningful community questions and answers, collected and edited by Cocos-BCX.

Host (Alvin): Hello everyone! As you know Cocos-BCX has completed a series of milestones such as internal testing, public testing, and MainNet launching since the start of this project. Thank you all for supports!

Recently, community members have questions about Cocos-BCX’s 2020 roadmap, MainNet node election, etc. Therefore, we conduct COCOS AMA Series №1 with Cocos-BCX founder Haozhi Chen to answer some questions from the community. Before we start today’s AMA, I’d like to introduce Haozhi Chen to you.

Haozhi is a serial Internet entrepreneur of 20 years in China. He founded Chukong Technologies in 2009, which is a leading mobile entertainment platform company that drives and maintains a healthy development ecosystem, provides users with excellent digital content. Chukong is also the main maintainer and supporter of the global Cocos open source game engine and developer community. Cocos has 1.4 million registered developers and more than 3 million users and its engine data and advertising network have 14 million daily active users and 605 million device installations totally. Under his leadership, Chukong has established branches in China, the United States, Japan and South Korea, and works with Asian and Western developers and launches games for partners worldwide. Previously, Haozhi founded Joyo.com (acquired by Amazon), Xcar, and Yeeyan.org.

Q1 Host (Alvin): Now, let’s welcome Cocos-BCX co-founder Haozhi Chen to share with us his views and expectancy on the future blockchain games market. After two years of development, do you have any new opinions on it?

Haozhi:

Thanks for your invitation. I’d like to begin by introducing the background of our project. Cocos-BCX’ , fully named ‘Cocos BlockChain Expedition’, aims to create an integrated multi-platform runtime environment for games, providing developers with the convenience and completeness in game development, while bringing users whole new gaming experience, unprecedented gaming status, and with all the assets obtained in the games being wholly owned by the users.

In the past 2 years, Cocos-BCX has continuously completed the infrastructure construction. For example, the MainNet has steadily run for nearly 4 months, the related SDK has basically been launched, and related DApps are gradually enriched and improved.

Although various black swan events occurred in 2020, we believe that the public chain environment is still developing in an orderly manner. We predict that the overall scale of the digital entertainment industry in China will double in the next five years. The blockchain-based game digital prop assetization we have expected in the past will also develop and have transaction needs. It will play a huge role in the next development of the 5G-based digital entertainment industry.

The blockchain industry has been rapidly developing and continuously iterating in the past three years. As a platform focused on blockchain games, Cocos-BCX is still optimistic about this field.

Q2 Host (Alvin): Thank you. Let’s move on. People heard that hacker maliciously attacked one of the Cocos-BCX swap wallet last month. They want to know what happened and when does the buyback end?

Haozhi:

Yes, we feel sorry about that. On April 03, 2020, we found out that one of the Cocos-BCX swap wallets was attacked by hackers maliciously. After confirming with the exchange data, the total amount of stolen tokens was 1,087,522,819.2 COCOS and the exchange confirmed that all the stolen tokens were sold off on that day. To ensure that the COCOS MainNet token swap will not be affected, the core members of the Cocos-BCX foundation decided to jointly establish a special fund for this incident to repurchase all the stolen tokens from the market and publicize the relevant wallet addresses. We promise that users’ interests will not be affected!

On April 29, Cocos-BCX officially announced to conduct the COCOS buyback from the secondary market. Besides, the progress of the COCOS buyback would be upgraded daily in official channels from April 30, 2020. 1,087,522,819.2 stolen COCOS would be bought back from the secondary market. As of 12 noon on May 09, Cocos-BCX foundation has bought XXX COCOS back from the secondary market. We will use this part of COCOS strictly in accordance with the white paper.

We would like to remind all users to protect your account information actively. Do not leave your account and password to others. Change the transaction password regularly.

Q3 Host (Alvin): When does Cocos-BCX node election voting start?

Haozhi:

On December 12, 2019, the Cocos-BCX MainNet was launched. We officially released the MainNet node election plan on December 18, and announced the basic rules of the node. During this period, some eligible institutions and users have applied to participate in the node election. Voting is an important part of the MainNet node election plan, and voting requires the MainNet COCOS. Therefore, in order to ensure that users can carry out the mapping safely, we need to fully prepare and cooperate with all parties.

In order to ensure that the MainNet can provide a stable, safe and friendly experience to the Cocos-BCX ecosystem, and in accordance with the requirements of all parties, the Cocos-BCX MainNet (Gang Rinpoche) needs to be commissioned for 2 months. After two months of stable operation of the MainNet, the official mapping website was announced on February 27. On April 2nd, Binance announced the completion of the mapping COCOS swap and deposits and withdrawals .

So we have been preparing the MainNet node plan. After everything is ready, Cocos-BCX decided to officially launch the MainNet node election vote on May 11.

Host (Alvin): The launch of the COCOS MainNet node election would be an important step in the development of the Cocos-BCX community, and it means that Cocos-BCX is implementing the DPOS mechanism and letting community members participate in the Cocos-BCX development.

Q4 Host (Alvin): Are there rewards for voters in node election voting?

Haozhi:

Voters have no official COCOS rewards. For example, if A votes 100 COCOS for BP nodes, A will not earn direct revenue. However, the block producers who get the votes may give some rewards to the voters.

Q5 Host (Alvin): Why Binance removed COCOS/BTC trading pair?

Haozhi:

Binance announced that it would remove and cease trading on some trading pairs, including COCOS / BTC trading pair, at 20:00 on 04.24.2020 (UTC+8).

In this regard, Cocos-BCX respects Binance’s decision. Users can still trade COCOS in COCOS / USDT and COCOS / BNB trading pairs. Besides, the Cocos-BCX team will cooperate with more trading platforms to provide multiple trading pairs, including COCOS / BTC trading pair, as soon as possible and strive to improve market liquidity and user trading experience.

Risk warning: Cryptocurrency trading is subject to high market risk. Please make your trades cautiously.

Host (Alvin): Increasing the COCOS market liquidity will be long-term work, the Cocos-BCX team has been working hard to implement this matter and will continue working on it.

Q6 Host (Alvin): Does Cocos-BCX have any plan on COCOS buyback and burning?

Haozhi:

First of all, Cocos-BCX aims to solve the future demand for digital content assetization and digital asset transactions in the game market, so we need to have enough tokens to prepare for the actual circulation. In the past 2 years, more and more projects have adopted staking, deflation model, and token burning. We are paying attention to all those methods.

However, from the perspective of operation and marketing, the market is still in an early stage, it should be decided by the application scenario whether to adopt a deflation model or token burning.

COCOS is circulating in the games, and we hope to realize the assetization of digital content. Today, COCOS does not really have the application scenario as we expect. At this time, if we simply shrink or burn COCOS to rise the currency price, it will contrary to our original intention. But when deflation or token burning is really needed, we will consider various ways to achieve. Here are two original intentions of COCOS: first, it conforms to the proper scenarios of the COCOS public chain, and maximizes to meet the use purpose. Second, it includes the interests of investors, communities, and all participants. In fact, this is not a question of whether do or not, but a question of when or how.

Q7 Host (Alvin): This year, several domestic public chains are deploying NFT. Does Cocos-BCX have any plans in this regard?

Haozhi:

The Cocos-BCX team has released the non-homogeneous digital asset standard and multiverse in August 2018, named NHAS-1808. It is considered more deeply in the blockchain game scene. In order to reduce repeated design, increase the efficiency of game development and make it more interesting, Cocos-BCX introduces the concept of multiverse. Those are also solid foundations for the existence of NHAS-1808.

The standard and cross-chain system are not only supported by mainstream public chains such as TRON, NEO, ONT, and ZIL, but also compatible with Ethereum and EOS networks.

Here is the comparison of Existing Non-homogeneous Digital Assets Standards.

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We now have multiple NFT assets on the Cocos-BCX chain, which are currently mainly obtained through community airdrops. We will also expand operations in NFT and look for cooperation with more partners.

Q8 Host (Alvin): What is Cocos-BCX’s plan in 2020? Do you have a roadmap?

Haozhi:

On February 27, 2020, we launched the Cocos-BCX MainNet token swap. At 18:00 (UTC+8) on April 02, 2020, Binance announced that the COCOS MainNet token swap had been completed, and the MainNet COCOS deposits, withdrawals and trading services had been opened. We will make sure every COCOS holder finish swap before the swap ended.

Cocos-BCX optimized rewards and position in [MainNet Stage] COCOS Ecosystem Buidlers & Angels Incentive Plan 1.0 and launched 2.0 version on March 24. As of April 15, Cocos-BCX announced 42 MainNet Ecosystem Buidlers & Angels and formally implements incentive plan to promote the healthy development of Cocos-BCX ecosystem.

On May 11, we will launch Cocos-BCX MainNet node election voting officially. Please stay tuned and participate in Cocos-BCX ecological development.

After the MainNet COCOS swap, the MainNet COCOS will circulate throughout the entire ecosystem, so it will attract and more interesting and diverse DApps throughout 2020, enlarging the entire Cocos-BCX ecosystem. If you are interested in joining our ecosystem, please contact admins.

In August 2019, COCOS was officially launched on Binance. At the same time, more than ten exchanges actively launched COCOS. In 2020, we will continue to launch COCOS on more influential and global exchanges. We also welcome people to jointly contribute to the circulation of the COCOS market.

In 2019, we listed the CocosWallet (mobile wallet) and Cocospay plug-in wallet, browser, forum, Cocos-BCX Wikipedia, development documentation, Bounty, development assistant and ChianIDE. In 2020, we will continue to iterate the above products and add more ecological products.

Ecological development of global communities: In 2020, Cocos-BCX will continue to strengthen the construction of global community ecology to attract more active community members and supporters. At present, there are four worldwide partners who have joined the Cocos-BCX ecosystem Buidlers & Angels. Furthermore, the COCOS MainNet Ecosystem Buidlers & Angels incentive plan will be valid for a long time, and everyone is welcome to participate.

In addition, we have biweekly reports and monthly reports. People can learn about the progress of Cocos-BCX through official channels. For any questions, please join Telegram Official Group and ask admins for assistance. We will help you resolve the problems as soon as we can.

Q9 Host (Alvin): Why the Crypto Knights on the COCOS chain is much smoother than on the EOS chain?

Haozhi:

Minimum Transaction Latency

Cocos-BCX comes with a syntax priority identifier for transactions. When a transaction is identified as immediate validation, the nodes will submit, process and broadcast the transaction immediately. The block generation and transaction execution become asynchronous for rapid asynchronous validation. Immediate response is another consensus priority. With it, response to transaction is hardly delayed. The nodes will submit transactions immediately, which greatly increase the

Sufficient High Concurrent Processing Capacity

Contract Virtual Machine

To ensure that the contract execution efficiency allows sound game experience for the users, Cocos- BCX comes up with a high-speed contract virtual machine scheme based on LUA for on-chain games. Different from existing rivals, the scheme features custom-made and optimized run-time environment and execution efficiency as well as language and API system that are the same as those of SDK, and interoperation interfaces for the chain and game execution environment. All these address the monotony in environment and poor flexibility and customization of blockchain contracts. The use of smart contract has gone beyond description of currency to content directly related to the games, probably including basic algorithms, setting, unit, scene and even map. The improved virtual machine not only supports more complex and flexible contract forms but greatly improve the execution efficiency of smart contracts.

Different witness delegation models to achieve small-scale consensus.

The development team designs various delegation templates based on the speed of witness so that single delegates need not witness and process all the run-time games at the same time but focus on witnessing and counting multiple games of the same type. Besides, under the templates, the submission of data or witnesses of different games are asynchronous. Each game will select a suitable delegation template. Data under the asynchronous templates is validated through on-chain database service. That is, users validate, store and obtain data on chain. This process is efficient enough to support operation of player data for large games.

Q10 Host (Alvin): What system is Cocos-BXC based on?

Haozhi:

Cocos-BCX is developed based on the graphene framework and uses an improved DPOS consensus.

Here are two important mechanisms:

Smithy Mechanism

The combination of props in the Smithy mechanism is an atomic operation to ensure the atomicity. All operations of the transaction will either succeed or fail simultaneously. The core of “player-the Smithy- player” consists of two parts, that is, the player submits materials to the Smithy, and the latter returns the finished props to the players, which together can be regarded as a complete transaction. The information of the two parts will be recorded on-chain to ensure that users’ asset transfer is true, reliable and tamperresistant. In doing so, circulated materials, tokens and other digital assets released by players are free from being manipulated in the same way as that in centralized game system, and data loss can also be prevented, thereby protecting the interest of the players.

Enhanced Permission System

Cocos-BCX’s design of separating the assets ownership from the right to use specifies existing permission system of the assets. The use right determines whether the user has the permission on most operations, while the ownership determines whether the user has the actual ownership and key rights to operate the assets. Certain operations are required to be co-signed by the owner and user.

With specified operations, Cocos-BCX provides operations that can be called by the contract. The operations support the transfer of ownership and use right, and enable the creation of a timed task. The operations of creating a timed task can specify the tasks to be executed upon expiration (if one contract function is called).

Next-Gen Digital Game Economy. Game engine, IDE and blockchain for decentralized game development. Website: cocosbcx.io

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